Latest news with #fruitprices
News.com.au
25-06-2025
- Business
- News.com.au
Rate cut hopes rise on latest inflation print
Australian mortgage holders have received a major boost, with the latest inflation data coming in significantly lower than market expectations. The latest consumer price index rose by 2.1 per cent for the 12 months to May 2025, beating expectations of 2.3 per cent. The all-important trimmed mean inflation rate, which the Reserve Bank considers when making decisions about the cash rate, came in at 2.4 per cent, its lowest point since November 2021. The money markets immediately jumped and are now factoring in an 85 per cent chance of a rate cut in July. Australia's inflation undershoot came as the price of food and non-alcoholic beverages fell from 3.1 to 2.9 per cent over the month. Prices for fruit and vegetables rose 2.8 per cent in the 12 months to May, down significantly from a 6.1 per cent rise in the 12 months to April. Fruit prices fell 2.7 per cent in the month of May with lower prices for mandarins, oranges, avocados and apples.
Independent Singapore
24-06-2025
- Business
- Independent Singapore
Durian prices expected to drop by 30% as Malaysia hits peak season
SINGAPORE: Good news awaits all durian lovers! Prices of the king of fruits in Singapore are projected to flip-flop by as much as 30% next month, as Malaysia gets ready for a bumper durian yield. According to a recent VN Express report, fruit vendors say the lowered price comes as the Malaysian durian season enters its peak in July, later than what is customary, but with promising harvests. 'Now it's the start of the season. So because the harvest is too little, it will be slightly expensive,' Sam Ho, owner of Uncle Sam Durian at Clementi Market & Food Centre, said. Ho, who sells durians from his farm in Pahang, home to the high-quality Musang King variety, expects a more robust crop year than in 2024, notwithstanding the late season. While the durian period characteristically runs from June to September, typhoons and intermittent heavy rains earlier this year interrupted blossoming and drove the peak back to mid-year. Eric Yeap, a durian farmer handling more than 50 hectares across seven orchards in Penang, affirmed that the season's start was delayed. 'Usually, the season starts in late April, but we are only starting to get the early batches of durians now,' Yeap said in an interview with Malay Mail in May. Luckily, with improved weather conditions, flowering has been triggered by the hot and dry spells in Pahang, and Alvin Yap, president of the Pahang Fruit Farmers' Association, predicts a generous yield come July and August. With three harvest waves anticipated, durian fruits, predominantly Musang King, are set to increase. Singapore sources say that approximately 85% of its durians are from Malaysia, with cross-border deliveries topping 100,000 kilos each day throughout the peak season. But retailers warn that weather conditions remain a strong factor in their production. 'While prices are predicted to fall, unpredictable weather could still affect the outlook,' said Austin Quak from Rolling Durian, another resident vendor. See also Malaysian singer Karen Kong selling durians during pandemic With the anticipation of high yields, some sellers and restaurants are giving out sizzling offers. FairPrice introduced a kampung durian promotion early this month, selling fruits at just S$1.95 (US$1.52) each at designated outlets on two weekends in June. At Resorts World Sentosa, The Bay Restaurant is preparing an extravagant durian buffet débuting July 11, where customers can pamper themselves with limitless fine durians for S$268 per individual. And for those taking short trips across the Causeway, Johor Bahru's Sunway Big Box Retail Park will hold a durian festival highlighting a buffet with fruits taken from one of Johor's biggest orchards. The entrance fee is just RM98 (US$23). With durians about to deluge the market and sales promotions picking up steam, July will become a banquet for Singapore's durian enthusiasts.
Malay Mail
13-06-2025
- Business
- Malay Mail
Kuching fruit sellers brace for impact as SST revision looms
KUCHING, June 13 — With Malaysia set to enforce the revised Sales and Service Tax (SST) on July 1, local fruit sellers are bracing for potential price impact. However, many remain cautiously optimistic that the changes will not significantly deter customer demand. Under the updated SST, an additional 5 to 10 per cent tax will be imposed on selected imported goods, including certain fruits. While the government has assured that essential goods and services will be minimally affected, some uncertainty remains among local traders. Liew Sze Puing, owner of Sara Fruit Sdn Bhd at Jalan Padungan, said that while prices of imported fruits may rise, he does not expect a drastic change. 'I think it should be no problem. The price won't go up that much, looking at the current market,' he told The Borneo Post. Liew added that fruits are a daily necessity for many and believes demand will persist despite slight price hikes. 'In the end, it depends on the customer's capability. If they can afford it, they'll go for the more expensive ones. If not, they'll choose the cheaper options. That's just how it is,' he said. Echoing similar views, fellow fruit shop owner in the area, Sharon Tan, noted that much of the pricing uncertainty stems from the import side. 'It is said that the price also depends on the import side, so it is likely that there won't be an increase. 'However, the situation remains uncertain, as the parties on the import end are still unsure. We're having difficulty getting through, so we don't know when we will get confirmation,' she added. When asked whether the tax changes might affect customer traffic, Tan said they continue to sell based on the stock provided and do not foresee a major impact. 'Customers will still need to buy regardless.' Another fruit seller, Ho, who owns a fruit shop at Tabuan Jaya, offered a different perspective from Liew and Tan. He noted that fruit prices have always been inconsistent, and if the cost of imported fruits increases significantly due to the SST, he plans to reduce the amount of stock ordered from suppliers. 'I will control the number of the stock, as a way to control the loss of income,' he said. So far, Ho has only heard about price increases for strawberries, with no news yet on other fruits. However, with the implementation of SST, he believes it is only a matter of time before the prices of other imported fruits rise as well. He also pointed out that while local fruits are not affected, the rising prices of imported fruits could lead customers to buy less, potentially dampening their overall interest for fruits. Ho further highlighted the broader challenges faced by small fruit retailers. 'If we compare it to five years ago, people used to buy fruits from small shops like ours. But now, with more and more shopping malls selling fruits below market value, we are forced to match those prices just to attract customers,' he said. To diversify his income, Ho now supplies fruits to hotels in addition to running his shop. 'This way, we're not solely relying on walk-in customers, who have declined significantly over the years,' he said, warning that if fruit prices continue to rise and competition in the market intensifies, small fruit sellers could eventually disappear. Meanwhile, the government has announced that there will be a grace period until December 31, 2025 for businesses to comply with the new SST structure. — The Borneo Post
ABC News
09-06-2025
- Business
- ABC News
Blueberry prices spike due to low seasonal supply and flood damage
Eye-watering blueberry prices could stay higher for longer this year due to seasonal shortages and crop damage caused by last month's torrential rain in northern New South Wales. The family favourite has been priced as high as $9.80 per 125-gram punnet in supermarkets in the past week, equating to $78.40 per kilogram. That compares to a low of less than $2.50 for a 125-gram punnet in most capital city retailers last October and a high of $19.99 a punnet at Fitzroy Crossing in Western Australia in June 2024. Berries Australia executive director Rachel Mackenzie said consumers could expect prices to ease as winter production increased in the next couple of weeks. However, torrential rain in northern NSW last month could have longer-term impacts, as most of Australia's blueberries are grown in the Coffs Harbour region. "Some growers have been completely flooded; others have had infrastructure damage and another problem is pest and disease increases after a big rain event like that," Ms Mackenzie said. The Australian Horticulture Statistics handbook valued blueberry production at $505.1 million in Australia last financial year, with 27,540 tonnes produced. Blueberries are also grown in Queensland, Victoria, WA and South Australia to ensure year-round supply. "At the moment any Australian fruit you see will probably be coming mostly from Far North Queensland, on the Atherton Tableland," Ms Mackenzie said. Australia has traditionally imported 700–1,700 tonnes of fresh blueberries a year, mostly from New Zealand. Ms Mackenzie said that despite Australia's higher production costs, the industry was focused on growing exports, competing with countries like Peru. "We're hopeful that we'll be able to have access to Vietnam relatively soon," she said. "China is a bit more of a long game but we are the current negotiating priority so that certainly means that we're in the mix." Ms Mackenzie said a recent Chinese delegation visited Australian blueberry farms looking to fill a gap in their home-grown supply, aligning with peak production in Australia. "They actually do grow a lot of blueberries in China and interestingly, a lot of the genetics they grow are Australian genetics," she said. "Despite being quite a small production country for blueberries, we're actually a real powerhouse in terms of genetics. Wet weather and seasonal shortages have also impacted strawberry prices, with a 250-gram punnet retailing for $5.50 in some supermarkets. Queensland Strawberry Growers Association president Adrian Schultz said the state supplied most of Australia during winter and spring. Apart from some recent sunshine, farmers have battled months of rain since planting began in March, meaning lower volumes of fruit on the market. Mr Schultz said a move towards hydroponic production on tabletops, using more mature plants that fruit earlier in the season, was good news for consumers. He appealed for patience with prices until supply increased, explaining that growers had already outlaid hundreds of thousands of dollars in the past six months. "We try and recoup all of our production costs and then later in the season is where we hope to make a profit," Mr Schultz said. Figures from the Australian Horticulture Statistics Handbook 2023/24 show Australian growers produced 80,741 tonnes of strawberries worth $505.5 million. Mr Schultz said the industry was consolidating, with the association's membership about half what it was 20 years ago. "That's basically because small family farms have gone by the wayside and the larger corporate entities have continued to expand," he said. While the number of growers may be shrinking, he said production remained steady, and strawberries were popular with consumers. "They've got a lot of vitamins and folate, nearly as much vitamin C as a Valencia orange," Mr Schultz said. Australian strawberry breeding program head Jodi Neal said it took six to seven years from cross-pollination to commercial release to develop varieties suited to subtropical production in south-east Queensland and Bundaberg, temperate areas in the southern states and Stanthorpe and Perth's Mediterranean conditions. She said it took several more years for nurseries to multiply enough plants for farmers to adopt new releases, including the Stella variety. The strawberry named in honour of the late disability activist and comedian Stella Young is being grown commercially this year. "It's potentially a more profitable strawberry variety," Dr Neal said. "It has larger fruit which means that the cost of production is a lot lower for our farmers, so they can continue making a profit." Dr Neal said developing tasty, disease-resistant, productive varieties was satisfying. "Getting farmers talking to us and telling us how much that variety helped them this season — having consumers coming to us, saying, the fruit this winter is tasting fantastic, that's what drives me." New white and pink strawberry varieties will become commercially available to growers next year.
